Here are the AP's top business stories that have moved or are planned to move today. All times U.S. Eastern. For up-to-the minute information on AP's coverage, visit AP Newsroom's Coverage Plan.

Wall Street climbs after strong profit reports wrest the spotlight from US-China trade tensions

SUMMARY: Stocks are climbing following strong profit reports from big banking and technology companies. The S&P 500 rose 0.9% Wednesday, coming off a roller-coaster day where it careened between a sharp loss and modest gain. The Dow Jones Industrial Average added 320 points, and the Nasdaq composite climbed 1.1%. Tech stocks helped lead the way following an encouraging profit report from ASML, which is a major supplier to the semiconductor industry. Nvidia and Broadcom were two of the strongest forces lifting the S&P 500. Bank stocks rallied following profit reports from Bank of America and Morgan Stanley that topped analysts' expectations.

WORDS: 746 - MOVED: 10/14/2025 11:58 p.m. EDT

___

CVS polishes off deal to buy former Rite Aid stores, prescription files

SUMMARY: CVS has finished buying customer prescription files from hundreds of closed Rite Aid drugstores and is now running 63 of the defunct chain's locations. The company said Wednesday that it is operating former Rite Aid and Bartell Drugs stores in Idaho, Oregon and Washington. It also has transferred customer prescription files from 626 pharmacies to nearby CVS locations. CVS Health did not say how much it spent. Rite Aid recently announced that its stores have closed. The company had said in May that it was seeking bankruptcy protection and would look to sell substantially all of its assets.

WORDS: 291 - MOVED: 10/15/2025 9:41 a.m. EDT

___

Group including Nvidia, BlackRock buying Aligned Data Centers in deal worth about $40 billion

SUMMARY: A group including BlackRock, Nvidia and Microsoft is buying Aligned Data Centers in an approximately $40 billion deal in an effort to expand next-generation cloud and artificial intelligence infrastructure. The acquisition comes amid a flurry of deals in recent months involving top AI developers that are flooding the booming AI sector with resources and money, and addressing resources -- such as electricity and infrastructure -- needed to support such technology.

WORDS: 337 - MOVED: 10/15/2025 9:23 a.m. EDT

___

How Promote Giving, a new investment model, will raise millions for charities

SUMMARY: Joel Holsinger, a partner at Ares Management Corp., on Wednesday launched Promote Giving, an initiative encouraging investment managers to donate a portion of their fees to charity. This idea stems from his experience with a tuberculosis prevention program in India, where he saw a lack of funding as the main barrier to success. Holsinger's model, which started in 2019, has already pledged over $40 million to charity. The initiative now includes nine firms and could generate up to $250 million in donations over the next decade. This approach aims to provide stable income for nonprofits, allowing them to focus more on their charitable work.

WORDS: 947 - MOVED: 10/15/2025 8:01 a.m. EDT

___

European Commission fines Gucci, Chloé and Loewe $183 million for price interference

SUMMARY: The European Commission has fined Gucci, Chloé, and Loewe over 157 million euros for anti-competitive pricing practices. The commission stated that the luxury brands restricted the ability of independent retailers from to set their own prices for high-end products. They required retailers to adhere to recommended retail prices and set maximum discount rates, in line with their own sales channels. Gucci and Loewe received reduced fines due to cooperation, with Gucci revealing additional breaches. Gucci's fine is nearly 120 million euros, Loewe's is 18 million euros, and Chloé's is nearly 20 million euros.

WORDS: 284 - MOVED: 10/15/2025 5:42 a.m. EDT

___

Edmunds small SUV comparison: New Volkswagen Tiguan vs. Honda CR-V

SUMMARY: The redesigned 2025 Volkswagen Tiguan aims to steal shoppers' attention from the Honda CR-V and its winning hybrid model in a showdown of two of the largest compact crossover SUVs on sale today. Edmunds' automotive experts compare them in four areas: performance and fuel economy; comfort and cargo space; tech and safety; and price and value.

WORDS: 890 - MOVED: 10/15/2025 6:25 a.m. EDT

___

Government shutdown delays release of critically important inflation figures

SUMMARY: The government shutdown is delaying another major economic report, leaving policymakers at the Federal Reserve with a cloudier picture even as the economy enters a challenging phase of stubbornly persistent inflation and a sharp slowdown in hiring. The shutdown could make things worse for agencies like the Fed if it continues, because government agencies cannot collect the raw data that are then compiled into the monthly reports on jobs, inflation, and other economic trends.

WORDS: 474 - MOVED: 10/14/2025 4:30 p.m. EDT

___

Waymo plans to bring its driverless taxis to London in 2026

SUMMARY: Waymo plans to expand its robotaxi service to London next year. The company will start testing self-driving cars on London streets in the coming weeks with a human safety driver. Waymo aims to win approval for its services by engaging with local and national leaders. Waymo's self-driving taxis have been operating in the United States for years, serving cities like Phoenix and San Francisco. The company will follow new U.K. regulations on self-driving cars, which require safety levels comparable to human drivers. Waymo will also adhere to rules from Transport for London.

WORDS: 298 - MOVED: 10/15/2025 5:01 a.m. EDT

___

Chinese airlines protest US plan to ban their flights over Russian airspace

SUMMARY: China's biggest state-owned air carriers are protesting a U.S. proposal to bar them from flying over Russia when traveling to or from the U.S. The U.S. side has said such flights give Chinese airlines an unfair cost advantage over American carriers, which cannot cross through Russian airspace. Air China, China Eastern and China Southern are among six Chinese airlines filing complaints over the order proposed last week to prohibit such flights by Chinese carriers. Moscow closed Russian airspace to U.S. air carriers and most European airlines in 2022 in response to Western sanctions for Russia's invasion of Ukraine.

WORDS: 449 - MOVED: 10/15/2025 12:27 a.m. EDT

___

Instagram says it's safeguarding teens by limiting them to PG-13 content

SUMMARY: Meta says teenagers on Instagram will be restricted to seeing PG-13 content by default and won't be able to change their settings without a parent's permission. This means that teens will see photos and videos on Instagram that is similar to what they would see in a PG-13 movie. The company is also adding an even stricter setting that parents can set up for their children. As it seeks to add safeguards for teens, Meta has already promised it wouldn't show inappropriate content to teens, such as posts about self-harm, eating disorders or suicide, though this does not always work.

WORDS: 1097 - MOVED: 10/14/2025 8:03 a.m. EDT

___

Stocks wobble as trade tensions between the US and China escalate

SUMMARY: U.S. indexes bounced between gains and losses and wound up mixed on Wall Street as trade tensions continued to simmer between Washington and Beijing. The S&P 500 gave up an afternoon gain and closed 0.2% lower Tuesday. The index was weighed down by drops in several tech heavyweights including Nvidia and Broadcom even as most stocks rose. The Dow Jones Industrial Average climbed 0.4%, and the Nasdaq composite dropped 0.8%. China says it's banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean, swiping at President Donald Trump's efforts to rebuild the industry in America.

WORDS: 864 - MOVED: 10/14/2025 12:05 a.m. EDT

___

Foundations want to curb AI developers' influence with $500 million aimed at centering human needs

SUMMARY: Ten philanthropic foundations are committing $500 million across the next five years to place human interests at the forefront of artificial intelligence's rapid integration into daily life. The coalition, which launched Tuesday, calls themselves Humanity AI. Its ranks include the Ford Foundation, MacArthur Foundation, Mellon Foundation, and Omidyar Network. Together they pledge to support AI developments that advance democracy, strengthen education, protect artists, enhance work and defend personal security. Citing fears such as AI-driven fake news and job replacement, the goal is to return agency to everyday people. MacArthur Foundation President John Palfrey says the "stakes are too high to defer decisions to a handful of companies and leaders within them."

WORDS: 949 - MOVED: 10/14/2025 12:01 p.m. EDT

___

US charges Cambodian executive in massive crypto scam and seizes more than $14 billion in bitcoin

SUMMARY: The U.S. government has seized more than $14 billion in bitcoin and charged the founder of a Cambodian conglomerate in a massive cryptocurrency scam. An indictment unsealed Tuesday accuses Prince Holding Group chairman Chen Zhi and unnamed co-conspirators of exploiting forced labor to dupe would-be investors and using the proceeds to purchase yachts, jets and a Picasso painting. Federal prosecutors charged Chen with wire fraud conspiracy and money laundering conspiracy. U.S. and British authorities also sanctioned Chen's company, and the Treasury Department declared it a transnational criminal organization. Messages seeking comment were left for a spokesperson for Prince. The company's website says it "adheres to global business standards."

WORDS: 922 - MOVED: 10/14/2025 4:11 p.m. EDT

___

IMF more upbeat about US growth than just months ago, but outlook is dimmer than last year

SUMMARY: The U.S. and global economies will grow a bit more this year than previously forecast as the Trump administration's tariffs have so far proved less disruptive than expected, the International Monetary Fund said Tuesday, though the full impact of those policies is still emerging. While the U.S. and world economies have fared better than expected, it's too soon to say they are fully in the clear, the IMF said, as Trump has continued to make tariff threats and it can take time for changes in international trade patterns to play out.

WORDS: 996 - MOVED: 10/14/2025 9:03 a.m. EDT

___

Slowdown in US hiring suggests economy still needs rate cuts, Fed's Powell says

SUMMARY: Federal Reserve Chair Jerome Powell says that a sharp slowdown in hiring poses a growing risk to the U.S. economy. Powell's comments Tuesday suggest that the Fed will likely cut its key interest rate twice more this year. Powell said in written remarks that despite the federal government shutdown cutting off official economic data, "the outlook for employment and inflation does not appear to have changed much since our September meeting," when the Fed reduced its key rate for the first time this year.

WORDS: 744 - MOVED: 10/14/2025 12:20 p.m. EDT

___

Here's what young Native Americans funded with $720K from Newman's Own Foundation and Novo Nordisk

SUMMARY: Young Native Americans are leading efforts to combat food insecurity in tribal communities. Armed with funds from Newman's Own Foundation and Novo Nordisk, 21 Indigenous leaders crafted criteria and selected finalists as part of a $720,000 grant program. This initiative, organized by Native Americans in Philanthropy, reflects values of self-determination and intergenerational relationship-building that participants want more philanthropists to adopt. And the process has been successful enough that organizers want to increase the pot to $1 million next year.

WORDS: 921 - MOVED: 10/13/2025 9:02 a.m. EDT

___

Wall Street sees major jump in profits, helped by soaring stock prices and deal making

SUMMARY: Wall Street has experienced one of its most profitable quarters, according to earnings reports from major banks on Tuesday. JPMorgan Chase, Citigroup, Wells Fargo, and Goldman Sachs have all seen significant profit increases, driven by strong deal making, rising stock prices, and a resilient global economy. Despite these gains, bank executives express caution about market conditions and potential overinflated asset prices. JPMorgan's consumer banking division performed well, boosted by credit card spending. Investment banking revenues also surged, with Goldman Sachs seeing a 42% increase. However, concerns about tariffs, inflation, and geopolitical tensions remain.

WORDS: 744 - MOVED: 10/14/2025 11:13 a.m. EDT

___

Oracle and AMD expand a partnership with deals in the artificial intelligence sector booming

SUMMARY: Oracle and Advanced Micro Devices are expanding their partnership with the deployment of 50,000 AMD graphic processing units next year, with further expansion to follow. The so-called AI "supercluster" is a massive, interconnected group of high-performance computers designed to work together as a single system. The companies said Tuesday that next-generation AI models are poised to outgrow the limits of current AI infrastructure. The AMD-Oracle announcement is the latest in a flurry of intertwined deals over recent months between top AI developers joining to flood resources and money into the booming AI sector, raising concerns about a potential bubble.

WORDS: 335 - MOVED: 10/14/2025 8:27 a.m. EDT

___

US rejects bid to buy 167 million tons of coal on public lands for less than a penny per ton

SUMMARY: Federal officials have rejected a company's bid to acquire 167 million tons of coal on public lands in Montana for less than a penny per ton. It would have been the biggest U.S. government coal sale in more than a decade. The failed bid underscores a continued low appetite for coal among electric utilities that are turning to cheaper natural gas and renewables such as wind and solar. President Donald Trump has made reviving coal a centerpiece of his agenda to increase U.S. energy production. But economists say Trump's attempts to boost coal are unlikely to reverse its yearslong decline.

WORDS: 418 - MOVED: 10/14/2025 11:51 a.m. EDT

___

J&J lays out plan to splinter orthopedics business into separate company

SUMMARY: Johnson & Johnson is narrowing its focus again, nearly four years after peeling off its consumer health business. The health care giant said Tuesday that it will separate its orthopedics business into a standalone company known as DePuy Synthes. The move leaves J&J focused on its pharmaceutical and MedTech segments, which make prescription drugs, contact lenses and technology to treat cardiovascular disease and help with surgeries. J&J announced in November, 2021, that it would turn its consumer health business, which makes Band-Aids, Listerine and Tylenol, into a separate company that later became known as Kenvue.

WORDS: 223 - MOVED: 10/14/2025 9:20 a.m. EDT

___

Fendi names Maria Grazia Chiuri as creative director of the Italian fashion house

SUMMARY: Fendi has named Maria Grazia Chiuri as its new creative director after Silvia Venturini Fendi stepped aside to become honorary president. Her appointment on Tuesday comes amid a major shuffle of creative directors at major fashion houses. Chiuri, who was previously creative director at Dior, started her career at Fendi designing handbags. Her first collection for Fendi will be previewed in February. Venturini Fendi had taken over womenswear after Kim Jones left a year ago.

WORDS: 313 - MOVED: 10/14/2025 10:23 a.m. EDT

___

<END>